Cost Of Hosting Formula 1 Grand Prix (Race Fees & Other Expenses)

It is a known fact that the cost of hosting the F1 Grand Prix is not every nation’s cup of tea. The cost varies countries to country. Some countries have already well-established race circuits.

However, the new participants have to build the entire one. Same for handling tourists and International Standard hotels for drivers and stuff. One can only say that it’s not possible if governments don’t back up. So today we will take look at the hosting cost for Single Grand Prix.

Cost Of Hosting F1 Grand Prix

Cities that host a Formula One race have paid a lot of money. However, hosting a Formula One race is a matter of great honor for a country or a city. It becomes the source of tourism opportunities along with itself.

Although many countries submit bids to host a Formula One race and many bids were excepted, not every country has managed to sustain the costs involved. The biggest examples are India and South Korea.

Cost to host a F1 race

The cost of hosting a Formula One race highly depends on the duration of the contract signed. However, on average it costs around $40 million annually to host a Formula One weekend. However, new cities have to cover more expenses, for example, Saudi Arabia to host GP pays $55 million annually to host Formula One.

The high costs of hosting a Formula One race make it highly unlikely for the smaller countries to participate. Moreover, its firm believes that older racing venues like Italy, Britain, and Spain have below-average racing fees because of being they have existed for the longest time. Apart from this, there are various other expenses a host city, the country has to endure in order to hold a Formula One race.

Cost of Hosting F1 GP this season

CountryCircuitHosting fee ($)Contract ends
BahrainSakhir45 million2022+ Renewal forthcoming
Saudi ArabiaJeddah55 million2025 (May move to Qiddiya in the future)
AustraliaAlbert Park35 million2023
ItalyImola20 million2025 (Contract not yet signed)
United StatesMiamiCollaboration2031 (The circuit still to be approved)
SpainBarcelona25 million2026
MonacoMonte Carlo15 million2021 (Is on the calendar, renewal being negotiated)
AzerbaijanBaku55 million2024
CanadaMontreal30 million2029
FrancePaul Ricard22 million2022
AustriaRed Bull Ring25 million2022+ (Option for a multi-year extension)
Great BritainSilverstone25 million2024
HungaryHungaroring40 million2027
BelgiumSpa22 million2022 (The new deal being negotiated)
NetherlandsZandvoort32 million2023+ (Option for a two-year extension)
ItalyMonza25 million2024
RussiaSochi50 million2025 (Held at Igora Drive Circuit from 2023 onwards)
SingaporeMarina Bay35 million2021 (Is on the calendar, renewal being negotiated)
JapanSuzuka25 million2024
MexicoH. Rodriguez25 million2022
United StatesAustin25 million2021 (Is on the calendar, renewal being negotiated)
BrazilInterlagos25 million2025
Abu DhabiYas Marina40 million2030
ChinaShanghai50 million2025 (Returns in 2023)
QatarLosail55 million2031 (From 2023 onwards)

Leave a Comment